6 Responses

You live in a city with one of the finest public transportation networks on the globe, yet need a place to berth your Aston-Martin. A place that shouts, “I relish being part of the 1%, you petty underlings”. Manhattan is rapidly becoming Fantasy Island…nope, no gentrification there.

Well you have to put that in perspective, the parking spot goes with the $38.5 million penthouse. When you’re spending at that level it makes more sense, it’s a luxury amenity comparable to level of the property. Secondly it’s a deeded space, that’s in itself is gold in NYC.
When I lived in Manhattan 10 years ago, I was paying $3600/mo in rent and another $2500/mo for my parking spot. That was rent, not ownership and it was perfectly normal in my circle. So $1 million for a spot that I would own and then give to the next generation, yeah I wouldn’t even hesitate.

Many folks in NYC don’t own cars. It’s a pain in the rump. I would not pay $1 million for a parking space, but I’d use the money to buy a 2nd (weekend/vacation) property and park my spare car in my garage for weekend use.